Photo: Aliko Dangote
Dangote Petroleum Refinery & Petrochemicals is hoping to raise up to $5 billion from investors across Africa through its initial public offering on the Nigerian Exchange Group (NGX)
The share sale is expected to open as early as May, with analysts valuing the company between $40 billion and $50 billion, making it one of the most significant capital market events in Africa’s history.
The offer is expected to cover between 5 percent and 10 percent of the company’s equity, creating an opportunity for both local and international investors to participate in the continent’s largest refining project.
Market stakeholders have continued to position the listing as a major milestone that could deepen liquidity and expand participation across African financial markets.
On 1 April, the Nigerian Exchange Group and the African Securities Exchanges Association convened senior executives from leading exchanges across the continent to discuss the structure of the planned listing.
The meeting focused on how the Dangote Refinery IPO could serve as a model for cross-border capital mobilisation and improve investor access across multiple African markets.
